OTTAWA, Nov. 26, 2014 /CNW/ - Canada Post is reporting yet another profit in its third quarter and expects to end the year with a surplus. The union representing postal workers says the profits show that Canada Post can stay successful without eliminating home delivery.
The Canada Post segment reported a profit before tax of $53 million for the second quarter of 2014 and $13 million in the third quarter. The Canada Post Group of Companies reported a profit before tax of $86 million in the second quarter and $35 million in the third quarter. The 2014 corporate plan had projected a loss before tax of $274 million for 2014, showing that the Crown Corporation's forecasts cannot be trusted.
"At this point, it's obvious that these cuts are based on attacking public services, rather than the facts," said Denis Lemelin, National President of the Canadian Union of Postal Workers. "Our post office has been profitable for the vast majority of the last twenty years and continues to be profitable. We need to stay headed in the right direction, not cut back on a good service."
The union has joined seniors' organizations and advocates for persons with disabilities as well as concerned community members to oppose the cuts. A federal court challenge was filed on November 4th and opposition to the cuts continues to grow.
"Canada Post and the Conservatives must be stopped before they destroy an important public service," said Lemelin.
SOURCE: Canadian Union of Postal Workers
For further information: please contact Aalya Ahmad, CUPW Communications at [email protected] or 613-327-1177.